Zacks Investment Research Downgrades Arch Therapeutics (ARTH) to Hold

Zacks Investment Research lowered shares of Arch Therapeutics (OTCMKTS:ARTH) from a buy rating to a hold rating in a research report released on Friday morning.

According to Zacks, “Arch Therapeutics, Inc. is a medical device company. It develops products that make surgery and interventional care faster and safer by using an approach to stop bleeding, control leaking, and provide other advantages during surgery and trauma care. The Company’s lead product candidate includes AC5 (TM), a biocompatible synthetic peptide, to achieve hemostasis in minimally invasive and open surgical procedures. Arch Therapeutics, Inc. is headquartered in Wellesley, Massachusetts. “

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Other equities analysts also recently issued reports about the stock. HC Wainwright set a $3.00 price objective on shares of Arch Therapeutics and gave the stock a buy rating in a report on Tuesday, December 19th. ValuEngine downgraded shares of Arch Therapeutics from a hold rating to a sell rating in a report on Friday, November 17th. Finally, Ifs Securities raised shares of Arch Therapeutics from an outperform rating to a strong-buy rating in a report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Arch Therapeutics presently has a consensus rating of Buy and an average target price of $2.17.

Arch Therapeutics (OTCMKTS:ARTH) opened at $0.34 on Friday. The stock has a market cap of $51.61, a price-to-earnings ratio of -8.38 and a beta of 4.31. Arch Therapeutics has a fifty-two week low of $0.25 and a fifty-two week high of $0.89.

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About Arch Therapeutics

Arch Therapeutics, Inc is a development-stage company. The Company operates as a biotechnology company. The Company focuses on developing products to stop bleeding (hemostasis) and control leaking (sealant) during surgery and trauma care. The Company’s technology is based on a self-assembling peptide that creates a physical, mechanical barrier, which could be applied to seal organs or wounds that are leaking blood and other fluids.